South Korea’s hydrogen station network today (September 10) received a major boost with the formation of a new company that wants to both construct and operate hydrogen stations in the country for public bus fleets.
Dubbed HyStation, the new company is formed of KOGAS, Hydrogenic Energy Fund, Samsung C&T, Industrial Bank of Korea, Hyundai Rotem and Woodside, and the group have already said they want to have the first stational operational by the end of next year (2022).
The Korea Development Bank has agreed to provide financing support for the established company.
Today, the HyStation Shareholders’ Agreement was signed today by Woodside Executive Vice President Sustainability Shaun Gregory, who noted the value of buses as a proven early use case for hydrogen.
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